State risk management revolving fund
HRS §41D-4
in effect41D-4. State risk management revolving fund
(a) The state risk management revolving fund is created and shall be funded in amounts reasonably necessary to:
(1) Carry out the responsibilities of the comptroller
established in section 41D-2;
(2) Pay claims to state agencies for losses to
property of the State caused by fire or other casualty, including the cost to
repair or replace buildings and other structures, replace damaged contents, and
to provide alternate structures while damaged structures are being repaired or
replaced;
(3) Pay claims against the State under sections
662-11, 41D-3, and 41D-8; and
(4) Pay for losses to the State incurred by the
dishonesty, nonfeasance, or misfeasance of any officer or employee of the State
or for any losses to the State through larceny, theft, embezzlement, forgery,
misappropriation, wrongful abstraction, wilful misapplication, or any other
fraudulent or dishonest act committed by one or more of the employees of the
State acting directly or in collusion with others.
(b) In addition to any appropriation the
legislature shall make to the state risk management revolving fund, the
comptroller may apportion to, and collect from, state agencies those amounts of
money that, in the discretion of the comptroller, reflect benefits received by
the agencies under this chapter. The comptroller may consider the relevant
risk and loss experience of the agencies in making apportionments and
assessments. Funds so collected shall be deposited into the state risk
management revolving fund.
(c) The comptroller may establish deductibles
for the state agencies for certain perils or classes of property losses and
may:
(1) Assess the agencies for losses incurred in the
amount of the deductible; or
(2) Reduce the payment from the state risk management
revolving fund to cover the casualty loss by the amount of the deductible.
(d) The comptroller may establish a formula
for refunds to the state agencies based upon the agencies' risk and loss
experience.
(e) Money in the state risk management
revolving fund shall be expended only for the purposes delineated in subsection
(a) and only upon the authority of the comptroller, who is given discretion
when to permit expenditures from the fund. Money in the state risk management
revolving fund shall not be garnished, attached, or otherwise subjected to
legal compulsion to pay actual or alleged obligations of the State, any state
agency, or any state employee.
(f) The comptroller shall prepare, for each
fiscal year, a report of all claims arbitrated, compromised, or settled and
paid from the state risk management revolving fund as provided in section
41D-3. The report shall be submitted to the legislature twenty days prior to
the commencement of the regular session next succeeding the year for which the
report is made.
(g) Money received from the settlement of
claims or losses of the State as delineated in subsection (a) shall be deemed
to be trust moneys and may be deposited into the state risk management
revolving fund or into a trust account with and under the control of the
affected agency at the discretion of the comptroller. These moneys and any
interest earned thereon shall be used for the purpose identified in any such
settlement.
[L 1988, c 266, pt of §1; am L 1990, c 117, §2; am L 1991, c 122,
§1; am L 2006, c 173, §1; am L 2019, c 118, §2]
Source: Hawaii State Legislature (capitol.hawaii.gov), via Internet Archive capturesURL: http://www.capitol.hawaii.gov/hrscurrent/Vol01_Ch0001-0042F/HRS0041D/HRS_0041D-0004.htmFetched: 11/10/2026